Florida

Florida is viewed as a business friendly state in a number of national rankings. The Tax Foundation’s State Business Tax Climate Index ranks Florida #5 in 2014, the Small Business & Entrepreneurship Council’s Small Business Survival Index ranked Florida #8 in 2011, and Chief Executive Magazine ranked Florida as the #2 best state for business in 2013. In this study, however, Florida ranked in about the middle for all four indices. Its best ranking was 22nd for the Agricultural Processing Index and ranked 35th in the Meats and Livestock Products Index. The lack of a state income tax, capital gains tax and estate tax contributed to a high score in the government efficiency subcategory. Aspects of Florida’s business climate were also favorable to agribusinesses, including the state funding for the Florida Department of Agriculture & Consumer Services and a high score for job churning. Offsetting these benefits were some significant drawbacks. State infrastructure was rated in the bottom 20% nationally and the state scored poorly in all educational measures. The regulatory area also ranked poorly, largely the result of unfavorable tort liability laws and E-Verify requirements.